Statement from Rev. Jesse Jackson:
For the first time in its company’s history, Apple will include African American and Latino-owned financial services firms in its $6.5 billion debt offering. Williams Capital and Ramirez and Co. will participate in the syndicate.
Apple is making a major statement with the inclusion of minority financial services firms in this transaction is a major breakthrough for the business of diversity. The good news is that empowers minority firms, and is value added for Apple. Williams Capital and Ramirez and Co. are experienced, top-flight firms with proven track records. We are delighted that they are participating in Apple’s debt offering. They are changing the flow of the river.”
Diversity and inclusion should not be limited to workforce development and transformation. There is also a “business dimension” that must also be addressed – supplier diversity and procurement opportunities, access to capital for minority start-ups and companies, and inclusion of minority financial services firms in debt offerings, IPO’s and other transactions.
Apple is assuming a leadership role in opening up a significant financial transaction to minority firms. We hope Apple will continue to include minority firms in future financial transactions, and that other Silicon Valley technology companies will follow Apple’s lead and open up new business opportunities for minority firms. It’s good business; when there is inclusion, there is growth and when there is growth, ever body wins.
The Associated Press reports that “Apple sold roughly $17 billion in bonds in 2013, which at the time was the largest bond sale ever by a U.S. company. A year later, Apple sold $12 billion in bonds. The company has used the proceeds previously to pay investors dividends and increase its share buybacks.” Apple has a reported $178 billion in cash and marketable securities on hand at the end of December, most of it deposited overseas.
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